<html><body>
Shaynna Blaze will front Nine’s silly new property series Buying Blind.
The show features buyers who hand over their life-savings to others to secure their home.
Buying Blind was originally aired on <a href="https://redarrow.tv/broadcasters-get-the-keys-to-red-arrow-internationals-buying-blind/" target="_blank">Danish television</a> - made by the same production company behind the Married At First Sight.
The Block/Selling Houses Australia expert will be joined by buyer’s agent, Rich Harvey and builder, Marshal Keen.
Some have dubbed it Mortgage at First Sight.
“Buying a home is the biggest investment a couple will ever make together, so I couldn’t be more excited to join these couples on their journey to find, build and design their dream home,” said Blaze.
Nine’s Head of Content Production and Development, Adrian Swift, said the show had "unlucky house-hunters who take the ultimate leap of faith".
It’s marketed as edge-of-the-seat drama with the biggest reveal on TV.
Mark Fennessy, CEO of Endemol Shine Australia, the series producers says Buying Blind is a high-stakes property thriller.
An airdate is yet to be announced.
The show's moment of truth comes when the family must decide whether to grant the experts power of attorney over their life-savings to buy a house on their behalf.
The experts then start house-hunting, culminating in them putting in an offer, negotiating the price and completing the purchase.
Then the family are taken to the property, blindfolded, and their new house is revealed to them for the first time.
Disappointment often ensues; and then the experts spend some of the client's money for renovations.
</body></html>

jchancellor-FAypfDUnLy

MAFS for property: Buying Blind to take property television to new lows

<html><body>
The images of Prime Minister Malcolm Turnbull and the French President Emmanuel Macron looked fantastique last week on the lawn at Kirribilli House.
But are taxpayers getting value for money, when these days the home is used principably for dinners and press conferences?
With views of the Harbour Bridge and Opera House, both Kirribilli House and the neighbouring Admiralty House, there for the Governor-General's pleasure, rank among the city's most prestigious real estate. 
The Gothic Revival residence has been the Prime Minister's Sydney home since the 1930s, but I'd suggest Treasurer Scott Morrison's budget tonight ought signal one or maybe both homes should be sold. Let them just entertain in Canberra at The Lodge and Government House.
It was last flagged in 2004 when the then Federal Opposition leader Mark Latham foreshadowed that he would sell the harbourside mansion.
John and Janette Howard stayed put.
At the time it elicited speculation it could fetch around $50 million which would be handy revenue, but more importantly send a stocktaking message.
Even had Malcolm and Lucy opted to downsize from their Point Piper harbour front, the question still needs to be asked.
While it might not go down well with those who politicians who like icons, the Federal Government should not be Sydney-centric.
This article first appeared in The Sunday Telegraph. 
</body></html>

Icon homes ought be considered for government selloff at Kirribilli 

<html><body>
In another crowdfunding first, DomaCom Australia announced that the crowdfunding campaign to fund a mortgage backed loan has been successfully completed. 
Newcastle based financial advice firm Shartru Wealth Management has used the DomaCom platform to acquire a $1.6 million residential property in Melbourne using both debt and equity.
A crowdfunding campaign was completed to raise around $682K for the equity component and another campaign was completed to raise the remaining $948K debt. 
In executing both sides of the transaction, Shartru have been able to satisfy the growth needs of their accumulation clients as well as the income needs of their retiree clients with an attractive net return of 5.06% in a low risk environment.
The loan is secured by a first mortgage security on residential property with a conservative LVR of around 60%. 
Shartru CEO, Rob Coyte, said it delivered a tax effective investment for our growth-oriented clients whilst also being able to deliver an attractive income investment to our retiree clients.
"An investment option returning 5.06% and secured by first registered mortgage with a low LVR is attractive in today’s environment where retirees are lucky to receive a 2.5% return from term deposits,” he said.
DomaCom CEO, Arthur Naoumidis explained that one of the great benefits of property investment is to be able to use internal gearing to deliver long term tax effective returns.
“We are pleased we can now facilitate debt arrangements via the DomaCom platform, offering expanded opportunities for investors”
“Advisers can now fund both the equity and the debt portions of a property investment which enables them to provide the appropriate investment outcomes for both accumulation and retiree clients”.
“We are now looking forward to accelerating our FUM with these new debt facilities, particularly in the SMSF space. SMSFs can have a precise asset allocation to real property via DomaCom, including debt, without the need for a Bare Trust, limited borrowing and with all the additional administration and cost involved”.
“With a managed fund like DomaCom and with access to debt, Advisers have an internal solution to help clients access investment property and fixed interest income in line with their portfolio strategy as part of the adviser’s fee for service.
"This is something DomaCom has been working towards for three years”.
To learn more about crowdfunding, visit <a href="https://www.domacom.com.au/" target="_blank">DomaCom here</a>.
</body></html>

Domacom crowdfunds first mortgage backed loan for Melbourne purchase

<html><body>
The auction clearance rates across capital cities continue to yo-yo.
<div class="x_mcntpage" title="Page 1">
<div class="x_mcntsection">
<div class="x_mcntlayoutArea">
<div class="x_mcntcolumn">
CoreLogic advised the capital cities saw fewer homes taken to auction, with a total of 2,280 held, down on the prior weekend tally when 2,577 were held. 
But the lower volumes saw an improved preliminary clearance rate at 63.5 per cent, up on the weekend prior’s revised clearance rate which ranked the lowest over the year-to-date with 60.3 per cent of properties selling
The unit market outperformed houses, returning a 67.7 per cent clearance rate, with a 61.7 per cent for houses.
Click here <a href="https://www.propertyobserver.com.au/images/2018/5/7/unitvhouse.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/7/unitvhouse.jpg" alt="">
The gap was greatest in Sydney where 75.5 percent of units sold compared to 62.5. The gap was narrower in Melbourne at 65.8 against units at 62.4 percent. Canberra went against the national trend as houses outperformed units, 79.4 percent to 57.1 percent.  
Click here <a href="https://www.propertyobserver.com.au/images/2018/5/7/Sydneyunitsvhouses.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/7/Sydneyunitsvhouses.jpg" alt="">
Its follows the price trend where the unit market prices are outperforming house value growth, units being the more affordable segments of the market.
Although the preliminary clearance rate has shown a positive rise over the week, CoreLogic auction analyst Kevin brogan advised the trend in auction clearance rates clearly shows a downwards trend.
Click here <a href="https://www.propertyobserver.com.au/images/2018/5/7/bris.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/7/bris.jpg" alt="">
"Auction markets remain more buoyant than December last year, when Sydney clearance rates reached a low point of 52 percent, however the weaker auction results suggest housing market conditions are likely to remain relatively soft," Brogan said.
</div>
<div class="x_mcntcolumn">
"Looking at results over the corresponding year-to date period last year, the capital city auction market was performing quite differently, with an average of 10 per cent more homes selling over the same period last year, while weekly volumes continue to show similar trends," he noted.
Click here <a href="https://www.propertyobserver.com.au/images/2018/5/7/melbourne0.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/7/melbourne0.jpg" alt="">
Melbourne returned a preliminary clearance rate of 63.5 per cent this week across 1,137 auctions, down on last week when 1,334 auctions took place and a higher 63.9 per cent cleared.
Click here <a href="https://www.propertyobserver.com.au/images/2018/5/7/auction_may7.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/7/auction_may7.jpg" alt="">
Sales were occurring after auctions including an Elsternwick offering.
The Block alumni reno stars Julia Treuel and Sasha Wright-Neville’s latest project fetched $2.485 million in post-auction negotiations after it passed in on a vendor bid of $2.3 million.
The Herald Sun advised Gary Peer &amp; Associates agent Jeremy Rosens had been quoting $2.3 million to $2.5 million for the 2016 transformed four-bedroom Edwardian at <a id="x_mcntLPlnk616086" class="x_mcntOWAAutoLink" href="https://www.realestateview.com.au/real-estate/7-willow-street-elsternwick-vic/property-details-buy-residential-11785938/" target="_blank" rel="noopener noreferrer">7 Willow Street</a>.
There was a post-auction result too on a converted Fitzroy furniture factory with Provan-Ludlow design (top below).
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/7/fitz2.jpg" alt="">
The <a id="x_mcntLPlnk987193" class="x_mcntOWAAutoLink" href="https://www.realestateview.com.au/real-estate/51-s-little-smith-street-fitzroy-vic/property-details-sold-residential-11775290/" target="_blank">51 South Little Smith Street offering</a> fetched $2.015 million after the house had passed in at $1.925 million through Jellis Craig Fitzroy agent Bev Adam who said said the buyer and sole bidder came from St Kilda East.
Melbourne's top officially advised result was <a id="x_mcntLPlnk819398" class="x_mcntOWAAutoLink" href="https://www.realestate.com.au/sold/property-house-vic-armadale-128025734" target="_blank" rel="noopener noreferrer">507 Orrong Rd, Armadale</a>, a 10 bedroom offering. 
Listed with $5.5 million to $5.95 million hopes, it fetched $6.6 million.
Set on the corner of Karbarook Ave, benefiting from a GRZ Schedule 3 zoning, the 1930's English style residence currently divided into three separate apartments, was marketed by Marshall White as "an outstanding opportunity for a luxury development."
There were just the two bidders after the property was announced on the market at $6.25 million.
There was also a $6.25 million sale in Hawthorn when the four bedroom Biasca, at <a id="x_mcntLPlnk327092" class="x_mcntOWAAutoLink" href="https://www.realestateview.com.au/real-estate/20-riversdale-court-hawthorn-vic/property-details-buy-residential-11780853/" target="_blank" rel="noopener noreferrer">20 Riversdale Court</a> was sold (below).
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/7/biasca.jpg" alt="">
It was listed with $5.3 million to $5.8 million price guidance.
In Sydney, 774 auctions were held this week with 66.9 per cent selling, up on last week when only 55.8 per cent of auctions were successful across a slightly higher 829 auctions.
Sydney's top sale was at Balmain, in Sydney's inner west, where a three-bedroom waterfront sold $500,000 above reserve at $4.8 million.
<div class="x_mcntcq-article-content-paras x_mcntsection">
<div id="x_mcntarticle-inline-ad" class="x_mcntadWrapper">Just two bidders competed for the house at <a id="x_mcntLPlnk335437" class="x_mcntOWAAutoLink" href="https://www.realestate.com.au/property-house-nsw-balmain-128020726" target="_blank" rel="noopener noreferrer">3 Longview Street</a>, which had its own deep-water mooring and views across the Parramatta River.</div>
<div class="x_mcntadWrapper">Domain reported it sold to a Brisbane couple returning to Sydney after four years away.</div>
<div class="x_mcntadWrapper">Brisbane saw the nation's cheapest sale at $220,000 for <a id="x_mcntLPlnk62351" class="x_mcntOWAAutoLink" href="https://www.realestate.com.au/property-house-qld-kingston-128099434" target="_blank" rel="noopener noreferrer">4 Dale St, Kingston</a>. The three bedroom Logan district home that sits on a 658 sqm block last traded in 1974 at $17,000.</div>
</div>
<div class="x_mcntcq-article-content-paras x_mcntsection">
Results were varied across the smaller auction markets this weekend, with Canberra and Perth recording a slight increase in week-on-week volumes, while the remaining markets saw fewer auctions take place.
</div>
Canberra was the strongest performer with 74 per cent of homes selling, while only 18 per cent of Perth homes sold.
Prices in Canberra ranged between $417,000 at Casey and a $1,475,000 sale at Turner.
</div>
</div>
</div>
</div>
</body></html>

Auction clearance rates are yo-yoing, but autumnal trend is downwards

<html><body>
Domain's revised results for the weekend of April 28 and 29 put the Sydney clearance rate at 48.1 per cent.
It was a significant occurrence, the first time below 50 percent on an ordinary auction weekend for many years.
<table style="height: 173px; width: 531px;" border="0"><tbody>
<tr>
<td>Last week revised tally</td>
<td>Saturday 28 April 2018</td>
</tr>
<tr>
<td>City</td>
<td>Sydney</td>
</tr>
<tr>
<td>Clearance rate</td>
<td>48.1%</td>
</tr>
<tr>
<td>Number listed</td>
<td>673</td>
</tr>
<tr>
<td>Number reported auctions</td>
<td>502</td>
</tr>
<tr>
<td>Number sold</td>
<td>301</td>
</tr>
<tr>
<td>Number w/drawn</td>
<td>124</td>
</tr>
<tr>
<td>Total value sold (million)</td>
<td>$261.7</td>
</tr>
<tr>
<td>Auction median houses</td>
<td>$1,307,000</td>
</tr>
<tr>
<td>Auction median units</td>
<td>$905,000</td>
</tr>
</tbody></table>
Cooley Auctions' auctioneer Damien Cooley recently suggested a generally accepted auction clearance rate for a healthy market, where both sellers and buyers have equal bargaining positions, was between 50 per cent and 60 per cent.
The original Saturday night had the clearance rate at 58.1 percent.
<table style="height: 174px; width: 414px;" border="0"><tbody>
<tr>
<td>City</td>
<td>Sydney</td>
</tr>
<tr>
<td>Clearance rate</td>
<td>58.1%</td>
</tr>
<tr>
<td>Number listed</td>
<td>670</td>
</tr>
<tr>
<td>Number reported auctions</td>
<td>378</td>
</tr>
<tr>
<td>Number sold</td>
<td>264</td>
</tr>
<tr>
<td>Number w/drawn</td>
<td>76</td>
</tr>
<tr>
<td>Total value sold (million)</td>
<td>$224.1</td>
</tr>
<tr>
<td>Auction median houses</td>
<td>$1.3 milion</td>
</tr>
<tr>
<td>Auction median units</td>
<td>$905,000</td>
</tr>
</tbody></table>
"Buyers certainly feel like the tides have changed ... but we won't call them buyers' markets unless clearance rates are less than 50 per cent.""Things are changing and the market is not as good as it was, but it's a very fair market," Cooley Auctions' auctioneer Damien Cooley told Fairfax Media recently.
</body></html>

Domain put Sydney clearance rate at just 48 percent, i.e. a buyer's market

<html><body>
A Kew home, built in 2016 with the dream mancave by Anderson Homes boss Laurie Anderson, was snapped up before its scheduled weekend auction.
It was the 2017 Master Builders Association Victorian runner-up for home of the year which left the judges, like the buyers, impressed by the home’s hydraulic raised driveway.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/7/kew2.jpg" alt="">
The Hillcrest Avenue driveway led to the basement in <a id="x_mcntLPlnk38888" class="x_mcntOWAAutoLink" href="https://www.realestate.com.au/sold/property-house-vic-kew-128067222" target="_blank">the home</a> that cost $4 million to build after its design by Anderson Home in conjunction with Stephan Kosa Architects.
The vast 320 sqm basement space came with video golf driving range, bar with beer on tap, wine cellar, plus workshop complete with car turntable and its automoted driveway ramp.
There was even light through a window view through to the pool.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/7/kew3.jpg" alt="">
There's a lift to upstairs in the four bedroom, four bathroom home that sat on a 740 sqm block which cost $1.98 million in 2014.
No sale price has emerged from the mid-week auction, but Kay &amp; Burton agent Scott Patterson and Fletchers’ Jeremy Desmier, had initially advised to expect to pay between $6.2 million to $6.8 million.
There's speculation closer to $7 million was achieved, which would rank as the top result for weekend listings.
 
</body></html>

Anderson Homes-built Kew mancave home tops weekend auction listing sales

<html><body>
Award-winning artist Nigel Sense and his wife, the designer, Monica Lawrie secured $1.31 million for their Marrickville warehouse conversion.
McGrath Inner West agent Adrian Tsavalas had eight bidders register, but first time buyers secured the property against strong underbidder investor bidding.
The buyers will operate her business, Studio Chen Chen, from the downstairs shop.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/27/marrick2.jpg" alt="">
There was a $1.2 million reserve price. 
They'd completely renovated and extended the property since paying $380,000 in 2010.
The old store front is now Sense's studio.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/27/marrick3.jpg" alt="">
It had a $1.15 million guide through McGrath inner west agent Adrian Tsavalas, who sold the property eight years ago. 
<a href="https://www.realestate.com.au/sold/property-house-nsw-marrickville-127960882" target="_blank">Marketed as a residential and commercial property</a>, the two level residence has two bedrooms, two bathrooms and a rear entertaining terrace.
Sense, a graduate from the University of Wollongong, is a neo-expressionist artist and has had his work featured in a number of group exhibitions throughout Australia and Sri Lanka.
He draws inspiration from the American abstract expressionists and pop artists of the 1960s.
 
</body></html>

Marrickville warehouse conversion sold to shop keeper first home buyers

<html><body>
<div class="cq-article-content-paras section">
The ASX-listed residential developer Desane has won its court battle against the NSW government's proposed low value compulsory acquisition of its development site in Rozelle for the construction of the WestConnex motorway.
<div class="cq-article-content-paras section">
Justice Hammerschlag ruled the government's notice to acquire Desane's development site at 68-72 Lilyfield Road in Rozelle had no statutory effect.
"Compulsory acquisition of private property is no light matter. 
"Complying with the requirements of s 15 is not a matter of difficulty, and it is not too much to ask of an authority of State given power to interfere with such rights," the judge ruled.
Desane will keep the land to progress the residential development of its $100 million 200-apartment project, its chairman Professor John Sheehan advised.
</div>
<div class="cq-article-content-paras section">
"I refer to Darryl Kerrigan in the movie The Castle," Professor Sheehan said after the court judgement.
"The court basically threw out the case."
<div class="cq-article-content-paras section">
"They were being mean and tricky and trying to steal the property from us. They conveniently overlooked the LEP [Local Environmental Plan]."
Click here <a href="https://www.propertyobserver.com.au/images/2018/5/1/west-connex.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/1/west-connex.jpg" alt="">
"The bigger picture is that is is simply due to cost overruns, and the government is looking at value capture," he added.
They will acquire some sites on the fringe and get a development application... to offset the cost overrun," he said.
</div>
</div>
<div class="cq-article-content-media section">"It begs the question why some of these properties on the edge of infrastructure projects are being acquired," he told The Australian Financial Review adding that evidence revealed that the site was merely being considered for a car park.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">“From day one, Desane questioned the true purpose of RMS’ proposed acquisition of our Rozelle property”, Professor Sheehan officially advised shareholders his ASX notification.</div>
<div class="cq-article-content-media section">
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
“We are pleased that Justice Hammerschlag has found that the PAN issued by RMS was of no effect.”
</div>
</div>
</div>
</div>
</div>
<div class="cq-article-content-paras section">
"If a land owner compulsorily to be dispossessed is entitled to know precisely what the land is needed for a public purpose, that entitlement must stem from elsewhere," Justice Hammerschlag said in his judgment.
"If there is no such entitlement, the land owner might never learn why his land is to be taken, an outcome which would be dissonant with the right in point of justice [articulated by Dixon CJ]."
</div>
<div class="cq-article-content-media section">"I conclude that the proposed acquisition notice of no statutory effect for failure to state the public purpose for which the property is to be acquired."</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">Late last year the Supreme Court of New South Wales ordered a mediation with the NSW government and various government agencies related to their proposed compulsory acquisition of the developer’s site in Sydney’s Rozelle.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">The NSW state government and the Roads &amp; Maritime Services were ordered by the NSW Supreme Court to disclose documents justifying the compulsory acquisition.
</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">Desane Properties Pty Ltd was represented in the proceedings by the Honourable Ron Merkel QC, David Pritchard, SC, and Stewart Levitt of Levitt Robinson Solicitors.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">RMS had throughout known that Desane wished to negotiate a solution which obviated the necessity for the permanent taking of the whole of the property.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">His honour noted what appeared to be the most developed plan at the time of the PAN shows only a use of a sliver of the property for a utilities corridor. </div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">"An easement would no doubt have sufficed to achieve this requirement absent the parkland commitment," Justice Hammerschlag ruled. </div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">"The same can be said of any works deep beneath the property.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">"In my view, it is improbable that RMS would have sought to acquire the entirety of the property (which it currently values at over $20 million) where only a sliver of it would be used, but for its open space and green parkland purpose."</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">
His Honour noted "in contrast to its somewhat amorphous purpose for acquiring the property to be used as a construction site, from at least 21 July 2016 RMS has had the unqualified and fixed purpose to acquire the Property to provide 10 hectares of open space and green parkland as publicly committed to by the Government</div>
<div class="cq-article-content-media section">.</div>
<div class="cq-article-content-media section">"The PAN was given to effectuate that purpose.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">"That purpose is ulterior to the purpose for which the PAN could properly have been given," he ruled.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">"It will be an abuse of RMS’ powers if the ulterior purpose is a substantial purpose in the sense that no attempt would have been made to acquire the land if it had not been desired to achieve the unauthorised purpose."
</div>
</body></html>

Desane's Darryl Kerrigan wins case against low value Westconnex compulsory acquisition by NSW Government

<html><body>
Stamp duty is a tax that discourages the buying and sale of homes. 
It provides the NSW State Government with a fairly reliable income.
There are two debates running ahead of the upcoming state budget. One is on the rate of the tax, the other on whether it should be phased out and replaced with another tax.
This week the Real Estate Institute of New South Wales (REINSW) really lashed out having long failed in their lobbying efforts to persuade the government to respond to the stamp duty bracket creep that has been in place for more than three decades.
It was time for the NSW government to amend the 1986 stamp duty brackets, according to the REINSW president Leanne Pilkington, who said the Government’s conduct was "nothing less than unconscionable”.
Pilkington noted the second reading to the 1986 Bill noted the increased rates for conveyances only affected properties worth more than $300,000 "and thus will not affect the average home purchaser”. 
The median house price in Sydney is now at $1.1 million, costing $46,000 in stamp duty.
Last financial year more than $7.3 billion was collected in stamp duty.
Up until February this year the government has raised $4.7 billion, so is on par with last financial year.
That's despite first home buyers being able to buy property up to $650,000 without having to pay stamp duty, and homes up to $800,000 seeing a discounted stamp duty.
Any adjustment to the standard stamp duty threshold rate would be simple, though likely at cost to overall revenues.
However the revenue could potentially go higher, and certainly be more stable, if the NSW government took the braver decision to phase in a broad based land tax that spreads the income across all land owners rather than only on those buying homes.
Many economists, and Ken Henry, author of the 2010 Henry Tax Review, have long argued that a broad based land tax is the most equitable way to tax property owners.
Earlier this month CEDA, the Committee for Economic Development of Australia, raised the issue in its report on inequality, How unequal? Insights on inequality. 
Unlike stamp duty which imposes a huge up-front financial burden upon only home buyers, a broad-based land tax, paid annually and spread over a wider base of people, provides a steady income stream to government to fund infrastructure.
It also would not stymie listings because many more homes would be listed by elderly downsizers if they weren't facing the repurchasing stamp duty burden.
John Daley, the chief executive of independent think tank the Grattan Institute, calculates an annual tax of $1 per every $1000 of a home's value would cost the median Sydney household $845 a year in tax.
I would however question the estimate due to the low reliability of NSW land valuations, which remain a flawed system. Any shift would require a fresh equitable modern revaluation of the state.
This article first appeared in The Daily Telegraph.
</body></html>

Is it time to consider a wider land tax?

<html><body>
A 15th-level, three-bedroom South Yarra apartment in the Robin Boyd designed Domain Park, largely in original condition, went to weekend auction.
It had a price guidance of $2 million to $2.2 million.
There was a $2.3 million opening bid.
It was auctioned by Marshall White auctioneer John Bongiorno who immediately declared the property on the market.
Three bidders then pushed the north-facing apartment, with protected views over the Royal Botanic Gardens and the city, to its $2.91 million sale price.
The 15th-level, three-bedroom apartment came with two car spaces at <a href="https://www.realestate.com.au/sold/property-apartment-vic-south+yarra-127919850" target="_blank">15.1/193 Domain Road</a>.
</body></html>

Robin Boyd designed Domain Park, South Yarra apartment sale at $2.91 million

One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

&nbsp;

&nbsp;

fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

&nbsp;

FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

Joel Robinson

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

Jonathan Chancellor

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News